Prognostics refers to the study or discipline of predicting end-of-life (EOL) of a system or a component of a machine, referred to herein as an asset or industrial asset. Some examples of such assets include gas turbines, consumer items, automobiles, automobile parts, etc. EOL refers to the time when the system or the component will no longer perform its intended function. In conventional systems, known techniques, such as Bayesian filtering techniques, have been able to predict the remaining useful life of assets. However, conventional methods require that the exact model that captures the system dynamics be known. This requirement is hardly met in practice, due to non-linearities in real-life assets and the complexities of machines currently being manufactured.